Applied Data Mining for Business and Industry

The increasing availability of data in our current, information overloaded society has led to the need for valid tools for its modelling and analysis. Data mining and applied statistical methods are the appropriate tools to extract knowledge from such data. This book provides an accessible introduction to data mining methods in a consistent and application oriented statistical framework, using case studies drawn from real industry projects and highlighting the use of data mining methods in a variety of business applications.

Introduces data mining methods and applications.
Covers classical and Bayesian multivariate statistical methodology as well as machine learning and computational data mining methods.
Includes many recent developments such as association and sequence rules, graphical Markov models, lifetime value modelling, credit risk, operational risk and web mining.
Features detailed case studies based on applied projects within industry.
Incorporates discussion of data mining software, with case studies analysed using R.
Is accessible to anyone with a basic knowledge of statistics or data analysis.
Includes an extensive bibliography and pointers to further reading within the text.

Applied Data Mining for Business and Industry, 2nd edition is aimed at advanced undergraduate and graduate students of data mining, applied statistics, database management, computer science and economics. The case studies will provide guidance to professionals working in industry on projects involving large volumes of data, such as customer relationship management, web design, risk management, marketing, economics and finance.

Author Biography

Paolo Giudici Department of Economics and Quantitative Methods, University of Pavia, A lecturer in data mining, business statistics, data analysis and risk management, Professor Giudici is also the director of the data mining laboratory. He is the author of around 80 publications, and the coordinator of 2 national research grants on data mining, and local coordinator of a European integrated project on the topic. He was the sole author of the first edition of this book, which has been translated into both Italian and Chinese. He is also one of the Editors of Wiley’s Series in Computational Statistics. Silvia Figini , Ms Figini has worked for 2 years for the Competence centre for data mining analysis and business intelligence at SAS Milan. She is currently completing a PhD in statistics, and already has a collection of publications to her name